Metals and energy led a broad risk-on tape today, while the grain complex split on crop condition and currency crosscurrents rather than moving as one block.
The Board
Grains & Oilseeds
🌽 Corn · Dec — 475.25¢ · +2.25 · +0.48% 🟢⬆️
🫘 Beans · Nov — 1222.75¢ · −3.50 · −0.29% 🔴⬇️
🥣 Meal · Dec — $327.30 · +3.50 · +1.08% 🟢⬆️
🧴 Oil · Dec — 71.63¢ · −0.50 · −0.69% 🔴⬇️
🌾 SRW · Sep — 678.00¢ · +4.00 · +0.59% 🟢⬆️
🌾 HRW · Sep — 733.00¢ · +9.25 · +1.28% 🟢⬆️
🌾 HRS · Sep — 704.25¢ · +12.00 · +1.73% 🟢⬆️
🌱 Oats · Dec — 346.00¢ · −5.25 · −1.49% 🔴⬇️
Prairie Crops
🌻 Canola · Nov — C$803.20 · −7.00 · −0.86% 🔴⬇️
🍺 Barley · Cash — C$285†/t · weekly · softer w/w ➖
Energy
🛢️ WTI · Sep — $84.34 · +1.86 · +2.26% 🟢⬆️
🔥 NatGas · Aug — $2.865 · +0.005 · +0.17% 🟢⬆️
Metals
🥇 Gold · Aug — $4,076.40 · +60.50 · +1.51% 🟢⬆️
🥈 Silver · Sep — $59.108 · +2.036 · +3.57% 🟢⬆️
Prices are Barchart end-of-day settlements as of today's close unless flagged †. Grain eighths converted to decimal cents for readability.
The Read
🌽 Corn — 475.25¢, +2.25 (+0.48%) 🟢⬆️ $CORN ( ▲ 0.17% ) $ZC_F ( 0.0% )
USDA's July 20 crop progress ticked good/excellent ratings down 1 point to 67%, with 59% silking — a modest read, not a scare.
Ethanol grind and export inspections stayed firm, offsetting the dip.
So what: A steady-to-firm corn tape keeps feed and ethanol input costs predictable this week.
Watch: Friday's export sales data and pollination-window heat.
🫘 Soybeans — 1222.75¢, -3.50 (-0.29%) 🔴⬇️ $SOYB ( ▲ 0.06% ) $ZS_F ( 0.0% )
Bean condition improved 1 point to 66% good/excellent, giving funds room to trim length after recent strength.
China's buying pace remains the swing factor, with South American new-crop competition still on the horizon.
So what: A soft pullback after strength isn't a trend break, but it trims the cushion on new-crop hedges.
Watch: Thursday's export sales and any fresh China purchase headlines.
🥣 Soybean Meal — $327.30, +3.50 (+1.08%) 🟢⬆️ $ZM_F ( 0.0% )
Meal carried the crush (the margin from turning beans into meal and oil) today, outpacing both a softer bean and a weaker oil print.
Protein-feed demand from cattle and hog rations stayed the primary bid.
So what: Firmer meal supports feedlot and hog-ration costs — worth watching if you're buying protein supplement.
Watch: Thursday's export sales and the meal/oil product-split spread.
🧴 Soybean Oil — 71.63¢, -0.50 (-0.69%) 🔴⬇️ $ZL_F ( 0.0% )
Oil pulled against meal today, unable to keep pace with crude's 2%+ jump — a rare break from its usual tight leash to energy.
Renewable-diesel policy chatter stayed quiet; palm oil comparisons were the bigger drag.
So what: Softer oil is a modest tailwind if you're pricing biodiesel feedstock, but it's a one-day wrinkle.
Watch: Malaysian palm oil export data and any biofuel-policy headlines.